New York City Mayor Michael Bloomberg backed an initiative promoted by fellow billionaires Warren Buffett and Bill Gates calling for rich Americans to pledge at least 50 percent of their wealth to charitable causes.
“This is a fantastic idea, and Bill and Melinda Gates and Warren Buffett are great Americans for leading with it,” Bloomberg said in an e-mailed statement today. “I am a big believer in giving it all away and have always said that the best financial planning ends with bouncing the check to the undertaker.”
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